Inflation Reaches the "Terrible Twos"

The CPI is rising in line with the Fed's target. What will be its response?

The "Terrible Twos" label doesn't just apply to toddler terrors but also the state of U.S. inflation.

Based on the latest data reported Tuesday, the consumer price index is climbing at a better than 2% rate for the 12 months through May. And that's if you count the all-in "headline CPI" or the "core CPI," which excludes food and energy prices from the cost of living.